Prices for steel scrap imported to Bangladesh remained on a downtrend over the last week amid a supply-demand imbalance in global markets, sources told Fastmarkets on Thursday March 18.
"The number of scrap cargoes available is currently higher than the number that markets such as Turkey are willing to buy. This means it's possible that United States sellers are under pressure to sell some material," an exporter source said.Negotiations were underway for bulk, deep-sea cargoes from the US West Coast to Bangladesh at an average price of $455-460 per tonne cfr, Fastmarkets heard, but two sales were heard concluded at prices around $455 per tonne cfr Bangladesh for HMS 1&2 (80:20) earlier in the week.
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